Nvidia Breaks Wall Street Pattern With Record Quarter Rally

Fundstrat's Tom Lee says Nvidia has broken an unusual pattern by rising after a record quarter. The chipmaker jumped 8.74% on August 27, defying its history of falling after beating Wall Street estimates.

Nvidia has beaten expectations for years but still fell after each of its last four reports. However, this time the stock's post-earnings reversal carried it to $227.98, adding roughly $440 billion in market value in one day.

The quarter was not close, with revenue hitting $96.2 billion, up 106% from a year ago. Nvidia guided the current quarter to $108 billion, and its price-to-earnings ratio is still low despite huge revisions to estimates.